Flat Tax

A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income. A flat tax falls under proportional tax as they allow certain deductions. There are various tax systems that are labeled "flat tax" even though they are significantly different.

Read more about Flat Tax:  Requirements For A Fully Defined Schema, Recent and Current Proposals

Famous quotes containing the words flat and/or tax:

    Man is a wingless animal with two feet and flat nails.
    Plato (c. 427–347 B.C.)

    Rumble thy bellyful! Spit, fire! Spout, rain!
    Nor rain, wind, thunder, fire are my daughters.
    I tax you not, you elements, with unkindness;
    I never gave you kingdom, called you children.
    William Shakespeare (1564–1616)